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Standard Bank launches a cash deposit service at store tills

Standard Bank customers can now use any Shoprite and Pick n Pay till points to deposit cash in SA

Standard Bank | Business Live

Standard Bank customers now have the ease of depositing cash while shopping for their daily essentials.


In partnership with Shoprite and Pick n Pay stores nationwide, customers will be able to deposit their money in store, removing the pressure of having to find an ATM or branch. 

For a fixed fee of R19.95, customers can make a deposit of up to R5,000 at Pick n Pay stores and R3,000 at Shoprite stores. This gives customers the convenience of more points of representation to pay their credit cards or deposit funds into their transactional accounts, which brings more ease to managing day-to-day payments. 

Navin Mahadeo, head of card issuing at Standard Bank, says it’s important to offer customers a safe and convenient alternative to deposit cash.

“Together with Shoprite and Pick n Pay, we have enabled an efficient and convenient way to deposit cash. Our customers do thousands of money transfers through our partner network with Instant Money. We want to ensure that Standard Bank services are consistently available for customers, anywhere, any time — irrespective of channel,” says Mahadeo.

Customers can deposit cash into their accounts as long as a physical debit, cheque or credit card is presented to make the deposit in-store. When that deposit is made, it will reflect on the customer’s account like a normal deposit at an ATM. 

Customers who have multiple accounts linked to their card will not be able to select the account they want to deposit money into, as the primary account linked to the card will automatically be credited. 

This service is available at Shoprite, Checkers, Usave and Pick n Pay stores (inclusive of Boxer, Pick n Pay Liquor and Pick n Pay clothing stores).

Customers with queries can contact Standard Bank on 086-0123-000.


Read more | Original article 

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